FBR issues values of minerals for tax collection

ISLAMABAD: Federal Board of Revenue (FBR) has notified values of minerals for collection of advance tax at the time of extracted, produced, dispatched and carried away from the licensed or leased areas of the mines.

The FBR issued SRO140(I)/2020 dated March 02, 2020 for notifying values of minerals to collect advance tax at the rate of five percent. The tax is applicable only on those persons not on the active taxpayers list (ATL).

The FBR inserted Rule 231I for values of minerals for the purpose of sub-section 4 of section 236 of the Income Tax Ordinance, 2001:

The values are:

S.No.

Name of mineral

Rate per metric tonne (in Rupee)

(1)

(2)

(3)

01

Argilacoeous clay

500

02

Asbestos

4875

03

Antimony

11700

04

Agglomerate

6500

05

Barite

6500

06

Basalt

9100

07

Bentonite

3900

08

Bauxite

4550

09

Bajri

780

10

Brine/salt

570

11

Barytes

875

12

Ball clay

875

13

Coal

5000

14

Clay

1625

15

China Clay

625

16

Calcite

1300

17

Celestite

1625

18

Conglomerate

1950

19

Chromite

18750

20

Chalk

2500

21

Dolomite

2250

22

Diorite

6500

23

Flourite

10400

24

Fullers Earth

1300

25

Fire Clay

1300

26

Gypsum

1950

27

Granite

13000

28

Gabro stone

9750

29

Granodiorite

9750

30

Gravel

750

31

Iron ore

5200

32

Limestone (for manufactures of cement)

4500

33

Limestone (other than cement factory)

1500

34

Laterite

815

35

Lake salt

875

36

Marble onyx

16250

37

Magnesite

3900

38

Marble (other than onyx)

3900

39

Manganese

5200

40

Ochre/ red ochre

3900

41

Ordinary stone

910

42

Pumice

1950

43

Quartz

3900

44

Quardzite

3250

45

Rock salt

875

46

Silica sand

4500

47

Sulphur

3900

48

Soap stone

5250

49

Serpentine

3250

50

Shale (cement industry)

2500

51

Sand

650

52

Shale

750

53

Slate Stone

1875

54

Sandstone

750

55

Tar sand

490

56

Tufff

1625

The FBR said that advance tax shall be collected by the provincial authority or a person authorized by the provincial authority to collect or recover royalty on minerals excavated and transported from leased area.

The FBR further said that where a person having authority to collect or recover royalty on behalf of the provincial authority:

(a) fails to collect tax as required; or

(b) having collected tax fails to pay the tax to commissioner as required under Section 160

the person having authority to collect of recover royalty as well as provincial authority shall be jointly and severally liable to pay the amount of tax to the commissioner who may pass an order to that effect and proceed to recover the same.